Scooters - Haiti

Haiti

In 2024, the projected revenue for the Scooters market in Haiti is expected to reach US$9.99m.
It is anticipated that this revenue will experience an annual growth rate (CAGR 2024-2029) of 0.79%, resulting in a projected market volume of US$10.39m by 2029.
Furthermore, the unit sales of Scooters market in Haiti are expected to reach 6.61k motorcyles by 2029.
Additionally, it is worth noting that the volume weighted average price of Scooters market in Haiti is projected to amount to US$1.56k in 2024.
From an international perspective, it is interesting to observe that the highest revenue is expected to be generated India, with a projected revenue of US$10,620.00m in 2024.
Haiti's scooter market is experiencing a surge in popularity as the country's urban population seeks affordable and convenient transportation options.

Key regions: United States, Brazil, Spain, Indonesia, Portugal

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Analyst Opinion

The Scooters market in Haiti has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of the market. Customer preferences in Haiti have shifted towards more affordable and efficient modes of transportation, which has fueled the demand for scooters. With the rising cost of fuel and limited public transportation options, many Haitians are turning to scooters as a practical and cost-effective means of getting around. Scooters are also popular among the younger population, who value the convenience and flexibility that they offer. Trends in the market indicate that scooters are becoming increasingly popular in Haiti. This can be attributed to several factors. Firstly, there has been a growing awareness of the environmental impact of traditional vehicles, leading to a greater demand for eco-friendly alternatives like scooters. Additionally, improvements in scooter technology have made them more reliable and efficient, further driving their popularity. Moreover, the availability of financing options has made scooters more accessible to a wider range of consumers. Local special circumstances in Haiti have also contributed to the growth of the Scooters market. The country's infrastructure is not well-developed, with many roads in poor condition. Scooters are well-suited for navigating these challenging road conditions, making them a practical choice for Haitians. Furthermore, the compact size of scooters allows for easier maneuverability in congested urban areas, where traffic can be a major issue. Underlying macroeconomic factors have played a role in the development of the Scooters market in Haiti. The country has experienced economic growth in recent years, which has resulted in an increase in disposable income for many Haitians. This has made scooters more affordable and accessible to a larger portion of the population. Additionally, the government has implemented policies to support the growth of the transportation sector, including the promotion of alternative modes of transportation such as scooters. Overall, the Scooters market in Haiti is experiencing growth due to customer preferences for affordable and efficient transportation options, as well as trends in the market that emphasize eco-friendly alternatives and improved scooter technology. Local special circumstances, such as poor infrastructure and congested urban areas, have also contributed to the popularity of scooters. The underlying macroeconomic factors, including economic growth and government support, have further fueled the development of the Scooters market in Haiti.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.